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How’s 2018 looking for house price movements in your area?

For anyone trying to buy – or sell – a property right now, the UK housing market is a confusing place to be. Tax cuts for first time buyers would seem to be an encouraging sign but then mortgage approvals have hit a significant low. On the one hand house prices are still some of the highest in Europe – but for those looking to sell movement has been incredibly sluggish. So, where are we right now in terms of the housing market and what change is there on the horizon? It’s not a great time to get a mortgage According to industry trade body UK Finance, mortgage approvals fell to a 13 month low at the end of 2017. 40,488 mortgages were approved in November, for example, compared to 41,576 in September. Some experts have predicted that this marks the beginning of a downward trend in mortgage approvals, something that has been made worse by the rise in interest rates last year. There could be many other reasons for the fall too, from the higher interest rates on mortgages in 2018 thttp://bit.ly/2GzIBbM